Over the past 45 years there have been 7 bull cycles and 7 bear cycles with varying duration and percentage gains.
On average, from the bottom of a bear market to the top of the bull market cycle, gold equities have risen approximately 500%. Better bull cycles have yielded returns of up to 760%.
No bear market was as horrific as the one just experienced from October 2012 until mid-December 2015. Does that mean that the new gold market we are currently in will last longer and provide opportunity for even stronger gains than those experienced in previous bull cycles? Only time will tell.